Jasbir S. Thandi and Global Century Insurance Brokers, Inc. (GBIC), defendants in the United States District Court for the District of Vermont (Vermont District Court) lawsuit regarding Global Hawk Insurance Company Risk Retention Group (Global Hawk) have defaulted. The Plaintiff, Vermont Department of Financial Regulation (Vermont DFR) Commissioner and Global Hawk Liquidator Kevin J. Gaffney, is now seeking a default judgment of $66.7 million against Thandi and GBIC.
The default against GBIC was entered in February 2021, while Thandi entered default in June 2022 as a sanction for refusing to comply with discovery.
Global Hawk was a Vermont-domiciled risk retention group providing commercial auto liability to independent truckers and small trucking operations with one to fifteen power units. GCIB was the managing general agent for Global Hawk. Thandi was the president of both GCIB and Global Hawk and was also a founding member of Global Hawk.
Global Hawk was placed into liquidation in June 2020 after assets at the RRG declined by more than $30 million. The lawsuit in Vermont District Court followed in October 2020.
According to the complaint filed with the lawsuit, from 2016 to 2020 the Defendants allegedly engaged in a scheme to defraud and obtain money from Global Hawk.
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